Breaking News Steel Patek 5016 At Only Watch Sells For CHF 7.3 Million, Becomes The Highest Priced Wristwatch Of All Time

If you’ve been following HODINKEE lately, you probably know that this is a big weekend in the watch auction world. And the watch that has probably attracted the most attention is Patek Philippe’s contribution for Only Watch, a piece unique 5016 in steel. Why? Because, as Jack alludes to here, there has been a widespread consensus that if the right elements came together, this watch could become one of the highest priced wristwatches of all time.

Patek Phillipe for Only Watch 2015

Well, the hammer just dropped on the Patek and we have the result. After back and forth bidding between two phone bidders for the last 2 Million CHF, the watch sold to a phone bidder in English (probably from the UK, based on the fact that Paul Maudsley was the Phillips employee taking the bid), and the final price was 7,300,000 Swiss Francs (CHF), which makes it the #1 wristwatch of all time!

A very strong result that shows the strength of these unique modern “Super Pateks” only continues to climb and that the sky really is the limit if rarity, desirability, and most of all, a competitive bidding spirit come together.